Cape Verde joins Africa Fi­nance Cor­po­ra­tion

Cape Verde is the new­est mem­ber of the Africa Fi­nance Cor­po­ra­tion (AFC). On 25th March 2014, dur­ing the in­au­gu­ral In­fra­struc­ture In­vest­ment Sum­mit of the AFC, Cape Verde signed the In­stru­ment of Ac­ces­sion and Ac­cep­tance of mem­ber­ship of the Africa Fi­nance Cor­po­ra­tion.

Ms Cristina Duarte, Min­is­ter of Econ­omy and Fi­nance, Cape Verde, on be­half of the Govern­ment of Cape Verde, in her brief re­marks dur­ing the for­mal sign­ing cer­e­mony stated: “I am very pleased to for­malise Cape Verde’s mem­ber­ship of the Africa Fi­nance Cor­po­ra­tion.

A state­ment from the Cor­po­ra­tion said “Cape Verde and the AFC have en­joyed a very pro­duc­tive and col­lab­o­ra­tive re­la­tion­ship over the last few years. As the lead in­vestor in Cabe­olica, our award win­ning US$90m 26MW commercial wind farm, we have first-hand ex­pe­ri­ence of the ex­per­tise the cor­po­ra­tion can bring to in­no­va­tive projects. The Cor­po­ra­tion’s com­mend­able track record in part­ner­ing with gov­ern­ments to pro­vide in­no­va­tive fi­nanc­ing so­lu­tions in nat­u­ral re­sources, power, heavy in­dus­try, telecom­mu­ni­ca­tions and trans­port is val­i­da­tion of the value of such an in­ter­na­tional or­gan­i­sa­tion, and is why Cape Verde is de­lighted to be join­ing as a mem­ber.”

Wel­com­ing Cape Verde as the ninth mem­ber of the leading African In­fra­struc­ture fi­nance in­sti­tu­tion, the AFC’s Pres­i­dent & Chief Ex­ec­u­tive Of­fi­cer, Mr. Andrew Alli, ex­pressed AFC’s ap­pre­ci­a­tion to The Repub­lic of Cape Verde for ac­ced­ing to mem­ber­ship of the Cor­po­ra­tion. “AFC is de­lighted to have Cape Verde as the first Is­land State mem­ber of the Cor­po­ra­tion. We are com­mit­ted to help­ing Cape Verde de­velop its en­abling in­fra­struc­ture, specif­i­cally through the ex­pan­sion of much needed trans­port in­fra­struc­ture and in­dus­trial ca­pac­ity, to drive sus­tain­able eco­nomic growth.”

Cape Verde joins other African coun­tries, no­tably Nigeria, Ghana, Chad, The Gam­bia, Guinea, GuineaBis­sau, Liberia and Sierra-Leone as mem­ber states of the AFC.